Firing Bank of Canada head would spark global ‘shock wave’: ex-budget watchdog – Global News

Want to discuss? Please read our Commenting Policy first.
If any Canadian government were to fire the head of the Bank of Canada, the result would be a “global financial shock wave,” warned the country’s former budget watchdog.
In an interview with The West Block guest host Eric Sorenson, former parliamentary budget officer Kevin Page said the Bank of Canada’s reputation is one as a “strong” and “transparent” institution.
“We’ve gotten used to, over the past three decades, having an independent central bank that is independent — making decisions on these policy interest rates that is divorced from the political environment,” said Page, now president and CEO of the Institute of Fiscal Studies and Democracy at the University of Ottawa.
“It would be quite a shock wave, a global financial shock wave, to have a government literally remove a central banker who, by all intents, seems to be doing a fine job — but is doing a very difficult job.”
Page had been asked what the effects could be if a Canadian government were to fire a central banker.
That comes as Conservative leadership candidate Pierre Poilievre has been leading a campaign of criticism centring on the Bank of Canada’s handling of rampant inflation, which sits at 6.7 per cent.
The domestic target is two per cent per year.
Read more: Canada’s treasury ‘depleted’ as budget weans COVID spending, eyes uncertainty
As part of his criticism of the central bank, Poilievre has vowed that he would fire Tiff Macklem, governor of the Bank of Canada, if elected prime minister. That comment triggered rapid criticism over concerns it signalled an intent by the perceived leadership frontrunner to interfere with the bank.
Long-standing tradition is that the Bank of Canada operates independently of political decisions, with governors appointed on seven-year terms.
Officials have emphasized that those longer terms are what allows them to operate with a “measure of continuity over economic cycles — not electoral cycles — and allows for decision making that considers the long-term economic interests of Canadians.”
The Bank of Canada has opted to keep interest rates at rock-bottom during the COVID-19 pandemic, which is among the factors experts say have fuelled skyrocketing home prices. And as inflation keeps pushing the cost of living higher and higher, critics of the central bank like Poilievre have pointed the finger and argued its low rates are powering domestic inflation.
Canada, however, is far from alone.
Read more: Conservative leadership hopefuls debate future of party, trade Netflix suggestions
Inflation is rampant around the world right now, with no clear end in sight.
High consumer spending amid the lifting of COVID-19 restrictions has combined with supply chain shocks worsened both by factory closures caused by the reality that the virus is still circulating in high numbers, as well as the sharp shortages in supplies caused by Russia’s invasion of Ukraine.
“I think it’s a very simplification to assume that if we just change the leader, that somehow this sort of global environment — and inflation truly is a global issue — just somehow disappears,” Page said.
Sorenson asked: “Can the Bank or the Canadian government on their own bring inflation down in this country?”
Page said: “No.”
“This is a global phenomenon. A lot of it is supply-related, and it’s because of those very strong supports that went in 2020 to help during the lockdown,” he added.
“The economy’s come back really fast and eventually markets will adjust.”
So when might Canadians expect to see inflation back in a more normal range?
Page said the Bank of Canada’s moves to raise interest rates will play a role in helping slow the economy.
“I think over the next couple of years we could see inflation back maybe in that three per cent range.”
Get a roundup of the most important and intriguing national stories delivered to your inbox every weekday.
Get a roundup of the most important and intriguing national stories delivered to your inbox every weekday.


2022 Stanley Cup Playoffs Game 7 results: Flames and Rangers both move on after thrilling overtime wins – CBS Sports

Play Now
Men’s Brackets
Play Now
Women’s Brackets
NFL Schedule Reaction
Covering the impact of coronavirus on the sports world
After three Game 7s on Saturday, the thrilling first round of the 2022 Stanley Cup playoffs wrapped up with two overtime Game 7s on Sunday. Both games were high on drama and heroics from each team. 
In the early game, Artemi Panarin sent a shot to the right side of Tristan Jarry’s net to put the New York Rangers into the second round of the Stanley Cup Playoffs with a 4-3 overtime win over the Pittsburgh Penguins. Panarin was assisted by Adam Fox and Mika Zibanejad on the overtime game winner. Zibanejad was key for the Rangers’ success late in the game as his goal at the 14:15 mark in the third period was what sent it to overtime. 
Penguins coach Mike Sullivan was 3-0 in Game 7s coming into this game. His team finished the night with a 45-30 shots-on-goal advantage. Sidney Crosby did play in the game after missing Game 6, and recorded an assist in the loss. The Rangers will take on the Carolina Hurricanes in the second round.
In the late game, the Calgary Flames got their first playoff series win since 2015 with a 3-2 victory over the Dallas Stars. The Flames finished the night with a 67-28 shots-on-goal advantage but still had a tough time dealing with a persistent Dallas team that countered with a solid goaltender in Jake Oettinger. He registered 64 saves and the Flames spent some extra time after the game in the handshake line to congratulate him on a terrific performance. 
Calgary’s Johnny Gaudreau took seven shots on the night and got the winning goal from a difficult angle at the 15:09 mark of the first overtime period after collecting a rebound, with Elias Lindholm and Matthew Tkachuk getting the assists. Gaudreau also registered an assist on a Tkachuk goal in the second period that tied the game. Up next, the Flames are taking on the Edmonton Oilers, who advanced after a 2-0 win over the Los Angeles Kings in their own Game 7 on Saturday.  
Calgary got its first playoff series win since 2015 with this overtime victory. The Flames finished the night with a 67-28 shot on goal advantage but still had a tough time dealing with a persistent Dallas team that counted with a solid goaltender in Jake Oettinger. He registered a total of 64 saves and the Flames lined up to congratulate him on a terrific performance after their win. Calgary’s Johnny Gaudreau took seven shots throughout the night and got the winning goal from a difficult angle after collecting a rebound at the 15:09 mark. Elias Lindholm and Matthew Tkachuk got the assist. Gaudreau also registered an assist on the Tkachuk goal in the second period that tied the game. Up next, the Flames are taking on the Edmonton Oilers, who advanced after a 2-0 win over the LA Kings in their own Game 7 on Saturday.
Calgary’s Johnny Graudreau gets the winning goal. He took seven shots throughout the night and finally got one from a rebound at the 15:09 mark in overtime. He was assisted by Elias Lindholm and Matthew Tkachuk. 
A hard fought battle.#OneStateOneTeam | #TexasHockey | #StanleyCup

With their #Game7 victory, the @NHLFlames have punched the League’s final ticket to the Second Round!#StanleyCup Series win presented by @NavyFederal

Y’all Otter believe it!!!!!

📺: @BallySportsSW | #OneStateOneTeam | #TexasHockey | #StanleyCup
*deep breaths*
Calgary gets an overtime power play after Tyler Seguin gets a minor for hooking at the 5:08 mark of the extra period. 
53rd save of the night for Oettinger #StanleyCup #Game7
Don’t worry, we’ll get y’all a note for your bosses and teachers to excuse you from work and school tomorrow.#OneStateOneTeam | #TexasHockey | #StanleyCup

OT #letsgooooooo @NHLFlames
This city ❤️ Nothing beats the #CofRed.
Third intermission joke? YOU KNOW IT!

What do you call a blind dinosaur?

A do-you-think-he-saw-us 🦖

(yes, your atNHLFlames admin is a big Jurassic Park fan)
The second period saw three goals, but the third didn’t see goals or power plays. Dallas had a better offensive period outshooting the Flames 11-9, however, Calgary still finished regulation time with a 52-23 shot on goal advantage. Jake Oettinger is having an outstanding performance for Dallas. He registered 50 saves in regulation time, which is the most amount of saves ever during a Game 7 with no overtime period. This is the second Game 7 today, and only the second time ever that two Game 7s go into overtime on the same day. 
The most fitting end to the 2022 First Round “Mayhem” – not one, but two #Game7 overtimes.#NHLStats:
Y’all ready for OT?
And so it comes to this.

Game 7 Overtime. #OneStateOneTeam | #TexasHockey | #StanleyCup
Dallas goaltender Jake Oettinger’s 46 saves so far tie for the most saves in a non-overtime Game 7.  Ken Dryden registered 46 for the Montreal Canadiens in 1971.
Tkachuk Cam.
Jake Oettinger already has 41 saves through only two periods. 🤯

The only goaltender in @DallasStars history with more in a #Game7 is Ben Bishop (52 saves), who did so in a double OT contest during the 2019 Second Round.#NHLStats:

© 2004-2022 CBS Interactive. All Rights Reserved.
CBS Sports is a registered trademark of CBS Broadcasting Inc. is a registered trademark of CBS Interactive Inc.
Images by Getty Images and US Presswire


Russia-Ukraine war: what we know on day 82 of the invasion – The Guardian

Sweden follows Finland in application to join Nato; Nato pledges open-ended military support to Ukraine; British intelligence estimates Russia has lost a third of invasion force
Sweden has indicated it will follow Finland in applying for Nato membership. The two countries’ move abandons decades of military non-alignment triggered by Russia’s invasion of Ukraine and would redraw the security map of Europe.

Nato chief Jens Stoltenberg said the alliance would look to provide both countries with interim security guarantees while the applications are processed, including possibly by increasing troops in the region.

In apparent retaliation, the Kremlin has pulled the plug on electricity supplies to Finland, with which it shares a 1,300km (800 mile) border.

Nato pledged open-ended military support for Ukraine on Sunday. At a meeting of alliance foreign ministers in Berlin, Germany’s Annalena Baerbock said it would provide military assistance “for as long as Ukraine needs this support for the self-defence of its country”.
British intelligence revealed that Russia may have lost as much as a third of the invasion force, as more than 400 Russian soldiers were estimated to have been killed or wounded last week trying to cross the Donets river. UK defence chiefs said Russia’s offensive in the eastern Donbas region had “lost momentum” and that Moscow’s battle plan was “significantly behind schedule”.

Ukraine’s president Volodymr Zelensky has warned that the military situation in Ukraine’s south-eastern Donbas region is “very difficult” as analysts say Russian president Vladimir Putin has his sights on annexing southern and eastern Ukraine in the months ahead.

Russia’s defence ministry claimed it had carried out “high-precision” missile strikes on four artillery munitions depots in the Donetsk area in the east of Ukraine. The ministry also claimed airstrikes had destroyed two missile-launching systems and radar, and 15 Ukrainian drones around Donetsk and Lugansk.

As Russian forces struggle in Ukraine, Ukrainian forces made inroads. The first Ukrainian battalion reached the Russian border in the Kharkhiv region today.

Ukrainian authorities are conducting at least 10 active rape investigations involving Russian troops, and are calling for other victims to come forward.

Kalush Orchestra, the band that won Eurovision last night for Ukraine, is auctioning off the statuette to raise funds for the Ukrainian army and Ukraine. The win has lifted spirits around Ukraine.

Zelenskiy has warned that the war in his country risks triggering global food shortages and has urged international intervention to prevent global famine. Before the invasion, Ukraine supplied 12% of the planet’s wheat, 15% of its corn and half of its sunflower oil.

A cyberattack on the Lviv city council website resulted in stolen data that ended up published in Telegram channels linked to Russia. This happened the same weekend Italian police thwarted hacker attacks by pro-Russian groups on the Eurovision song contest.


Residents of Ukrainian city of Kharkiv pause for breath as Russian forces recede – CBC News

  1. Residents of Ukrainian city of Kharkiv pause for breath as Russian forces recede  CBC News
  2. Ukraine: Kharkiv hosts secret concert as Russians retreat  CTV News
  3. In Kharkiv, Ukrainians ‘will need to relearn how to live’ in wake of Russian retreat  The Globe and Mail
  4. Sheltering Ukrainian Children Continue Learning In Kharkiv Subway Station  NBC News
  5. View Full coverage on Google News


Gas prices reach another record in the GTA after six cents per litre increase overnight – CP24 Toronto's Breaking News

A woman fills up her with gas in Toronto, on Monday April 1, 2019. THE CANADIAN PRESS/Christopher Katsarov
Chris Fox, CP24 Web Content Writer
Gas prices have reached yet another new record after rising six cents per litre overnight.
As of midnight the average price of a litre of fuel across the Greater Toronto Area is now 208.9 cents per litre, according to Canadians for Affordable Energy President Dan McTeague.
The latest jump means that gas prices have now risen 11 cents per litre since Friday, with no real relief in sight due to supply shortages brought about by Russia’s decision to invade Ukraine and the international sanctions that have been imposed a result.
“When you look at the fundamentals, supply and demand for diesel and for gasoline going into the summer driving season, not only is it low or critically low and that is one of the main reasons why prices are going up but the second factor is the Canadian dollar,” McTeague told CP24 last week. “It continues to show weakness despite the fact that in the old good old days when oil was $100 a barrel we would be on par with the U.S. dollar. The fact that we’re not is costing you 33 cents a litre.”
Gas prices have risen by about 60 per cent since last May, when drivers were paying around $1.30 per litre to fill up.
Use of this Website assumes acceptance of Terms & Conditions and Privacy Policy
© 2022 Bell Media All rights reserved.


David Milgaard, who spent decades behind bars for a crime he didn't commit, dies at 69 – Toronto Star

Sign In
Sign In
The Star Edition
This copy is for your personal non-commercial use only. To order presentation-ready copies of Toronto Star content for distribution to colleagues, clients or customers, or inquire about permissions/licensing, please go to:
David Milgaard could see I was a tad uneasy when he dropped by the Toronto Star newsroom unexpectedly in July 1993, dripping wet and half-naked.
It was a year after he had been freed from prison — having spent nearly 23 years behind bars as the victim of one of Canada’s most notorious miscarriages of justice.
Milgaard, then 40, was wearing no shirt or shoes when he made his surprise visit to the Star’s newsroom to say hello and thank you for reporting on the case.
He was dripping rainwater on the newsroom floor and beaming.
Milgaard said he shed his shirt and shoes because he wanted to feel the sun and rain on his back and the pavement under his feet. He said he missed those things while behind bars.
Perhaps he needed to remind himself that he was finally free.
Milgaard died on Sunday of natural causes after a short illness. He was 69.
When he showed up at the Star that day in 1993, after accepting a free Blue Jays souvenir T-shirt, he had a piece of pie and some juice and stared out at boats in the Toronto harbour. A passing canoe caught his eye, and he talked of relaxing in northern Manitoba, away from everything except his thoughts and nature and maybe a few friends.
At that point, Milgaard was already doing a little work with a social justice group based in Saskatoon that helped prisoners who claimed they were wrongfully convicted.
After leaving the Star, he shed the shirt again and went running up Yonge Street in the rain, his arms outstretched as if he were going to fly.
He smiled much easier that day than when I visited him in Stony Mountain Penitentiary in November 1991.
He’d almost walked away from that first interview, after I asked him why he didn’t just say he did the killing so that he could display the remorse necessary to be granted parole.
At that point, he appeared to have little hope of ever clearing his name.
Milgaard had been a skinny 16-year-old when he was arrested for the 1969 rape and murder of Saskatoon nurse’s aide Gail Miller.
He told me he could never lie that he attacked Miller — even if a false confession meant his freedom.
“If someone asked you to admit to something and you didn’t do it and it’s really terrible, I’m sure you wouldn’t say you’re guilty,” he said. “Because you’re not.”
Milgaard grew from a teen to a middle-aged man in Canada’s roughest prisons, where he protested his innocence to anyone who’d listen.
He was raped, had his teeth punched out and often demanded to be put in solitary confinement just so that he could escape everything.
His arms became scarred with about a dozen slashes. They were about an inch long, ugly and deep. Some were from suicide attempts and others were just the slashing that’s common in prison, when prisoners choose pain over the dull feeling of being one of the living dead.
On top of the slashing scars on his arms were a couple of large rose tattoos, also from prison.
He said he hated it when strangers looked at him because he thought they saw him as a rapist and a killer.
“It was a nightmare,” Milgaard once said. “People do not have much love and care inside those walls.”
Milgaard’s conviction was overturned by the Supreme Court of Canada in 1992 and the Saskatchewan government stayed the charges.
Serial rapist Larry Fisher was eventually convicted of the Miller murder through DNA evidence.
Milgaard’s mother, Joyce, fought tirelessly with a team of lawyers, including David Asper and Hersh Wolch of Winnipeg and James Lockyer of Toronto, to win his release from prison.
Lockyer, who helped found the organization Innocence Canada, confirmed the death after speaking with Milgaard’s sister on Sunday.
Milgaard was finally exonerated in July 1997 after DNA tests proved that semen found at the crime scene didn’t match his.
Fisher was convicted in December 1999 of first-degree murder in Miller’s death and sentenced to life in prison.
The Saskatchewan government eventually issued Milgaard a formal apology and awarded him a $10-million compensation package.
Milgaard shared the money with his family because he said they suffered, too.
The compensation package allowed his older sister and brother to go back to school, his baby sister to buy a house and his father to finally retire, at age 69.
“My whole family, as far as I’m concerned, were in prison, just like I was,” he told the Star in 1993. “They deserve compensation.”
Ron Dalton, co-president of Innocence Canada, said Milgaard could have “turned inward and been very soured on life, but he didn’t let that happen.”
He could have walked away from his advocacy after clearing his name, but he “chose to look over his shoulder at the people left behind, the people who were going through suffering,” said Dalton, who was wrongfully convicted and later exonerated in his wife’s death more than 30 years ago.
Milgaard hurt his parole chances by escaping twice — once, for two months in 1980, when he lived in Toronto selling encyclopedias.
He was shot during one escape attempt.
He also attempted escape through suicide.
At the time of his trial in 1970, the Crown argued that Milgaard raped and knifed Miller to death in a purse-snatching gone wildly awry, after the youth from Langenburg, Sask., pulled into Saskatoon early one morning looking for a friend’s home.
Milgaard didn’t know Miller or Fisher.
Fisher was sentenced to 13 years in prison in December 1971, after being convicted on two counts of rape in Winnipeg, and three counts of rape and one of indecent assault in Saskatoon.
By that time, Milgaard had already spent two years behind bars.
Nine years later, on Jan. 6, 1980, Fisher was released on parole and living under the custody of his mother in North Battleford, Sask.
On March 31, 1980, Fisher was charged with the rape of his mother’s neighbour.
Milgaard constantly stressed that Fisher deserved a fair shake from the justice system that wrongfully convicted him.
There was a public inquiry into his wrongful conviction, beginning in January 2005.
In Milgaard’s later years, he helped to raise awareness about wrongful convictions and demanded action on the way Canadian courts review convictions.
“I think it’s important for everybody, not just lawyers, but for the public itself to be aware that wrongful convictions are taking place and that these people are sitting right now behind bars and they’re trying to get out,” Milgaard said in 2015.
“The policies that are keeping them there need to be changed. The wrongful conviction review process is failing all of us miserably.”
Lockyer, Milgaard’s former lawyer, said the two met with Justice Minister David Lametti just over two years ago in Ottawa to push for the creation of an independent body to review claims of wrongful convictions.
Lockyer said it’s up to Lametti to “get moving” on creating the commission.
“They owe it to David Milgaard and they owe it to the wrongly convicted across Canada.”
After Milgaard’s release, he married a woman who had grown up in Saskatoon, once believing that Milgaard was a killer.
He had a special arrangement with his wife. When he needed to get away, he simply left, but let her know so that she didn’t worry.

Anyone can read Conversations, but to contribute, you should be registered Torstar account holder. If you do not yet have a Torstar account, you can create one now (it is free)
Sign In
Copyright owned or licensed by Toronto Star Newspapers Limited. All rights reserved. Republication or distribution of this content is expressly prohibited without the prior written consent of Toronto Star Newspapers Limited and/or its licensors. To order copies of Toronto Star articles, please go to:


Josh Anderson leads Canada past Italy at men’s world hockey championship –

  1. Josh Anderson leads Canada past Italy at men’s world hockey championship
  2. Highlights | Italy vs. Canada| 2022 #IIHFWorlds  IIHF Worlds 2022
  3. Canada looks strong early at men’s hockey worlds, routing Italy for 2nd win  CBC Sports
  4. Canada wins Sunday matinee  IIHF
  5. US edges Austria in OT, Canada routs Italy at hockey worlds  Toronto Star
  6. View Full coverage on Google News


Foul play not suspected in Garson sudden death –

Sign in
Join now, it's FREE!
A 30-year-old man was pronounced dead on scene at an establishment on Falconbridge Road in Garson on Wednesday.
Greater Sudbury Police Service members were dispatched at approximately 11:20 a.m. after paramedics responded to the location of an unresponsive person.
Police are withholding his name out of respect for his family’s wishes. 
Since this incident has been classified as a sudden death, a police spokesperson noted that they are working with the Coroner’s Office. A post mortem will be conducted through the Coroner’s Office in order to assist in determining the cause of death.
At this time, police do not suspect foul play.
More Spotlight >
© 2022